Velera's Strategic Alliance with Kinective Enhances Financial Innovation

Velera Teams Up with Kinective for Enhanced Financial Solutions

In a dynamic move toward enhancing innovation and efficiency in the financial technology sector, Velera has formed a strategic partnership with Kinective. This collaboration aims to accelerate the market introduction of cutting-edge software products specifically designed for credit unions, providing the much-needed technological advancements that can reshape the landscape of financial services.

Introducing Kinective Gateway

At the heart of this partnership is the Kinective Gateway, an innovative solution that simplifies the integration of new software products with established core banking systems. The financial industry has often faced significant hurdles with traditional software development processes that are not only lengthy but also costly. However, this groundbreaking technology from Kinective introduces a simpler, more efficient approach by providing a single integration point.

The Impact of Kinective Gateway

Kinective Gateway serves as a vital tool for Velera, enabling a faster time-to-market for their product offerings. By mitigating the extensive development work typically associated with diverse core systems, Velera is positioned to deliver solutions that add tremendous value to its credit union clients. This shift not only reduces costs but also enhances the overall customer experience for credit unions, empowering them to serve their members more effectively.

Leadership Perspectives

The significance of this partnership is underscored by the words of Chuck Fagan, the CEO of Velera. "Velera is committed to empowering credit unions with leading-edge solutions," he commented. This conveys a clear message of dedication to improvement and innovation, emphasizing how the integration of Kinective’s technology will enable Velera to deploy new products more readily and efficiently.

Kinective's Vision for the Future

Stephen Baker, CEO of Kinective, elaborates on the transformative potential of the Gateway solution. He states, "Kinective Gateway is designed to unlock the potential of fintechs by removing the traditional barriers that have long delayed product development and rollout." This forward-thinking approach highlights the company's commitment to facilitating a more agile and responsive financial services environment.

The Broader Picture for Financial Institutions

Kinective’s Gateway not only represents a tremendous technological advancement but also aligns with the broader vision for the future of banking, where ease of access to modern technology will propel financial institutions into a new era of competitiveness. The capability to swiftly adapt to market changes is crucial for credit unions, helping them to remain relevant in an ever-evolving landscape.

About Kinective

Kinective stands out as a leader in the realm of digital solutions for the banking industry, specializing in document workflow and branch automation. The company has cultivated a robust, connected technology ecosystem tailored to empower financial institutions. With a clientele that includes over 3,000 credit unions and banks, Kinective is dedicated to helping its partners enhance service delivery and adapt to the rapidly advancing sector.

About Velera

Formerly known as PSCU/Co-op Solutions, Velera has established itself as a premier credit union service organization in the payments space. With a rich history spanning over 40 years, Velera is dedicated to providing a comprehensive suite of products and services, such as payment processing and risk management. Serving more than 4,000 financial institutions across North America, Velera is adept at supporting its clients through constant changes in the financial services market.

Frequently Asked Questions

What is the purpose of the Velera and Kinective partnership?

The partnership aims to enhance innovation and speed up the delivery of financial technology solutions specifically for credit unions.

What is Kinective Gateway?

Kinective Gateway is an integration technology that simplifies the connection between new software products and existing core banking systems, reducing development challenges.

How does this partnership impact credit unions?

This collaboration enables credit unions to access advanced technology solutions more quickly and efficiently, improving their competitive edge in the market.

What services does Velera offer?

Velera provides a comprehensive product portfolio that includes payment processing, fraud management, data analytics, and more to support credit unions and their members.

What is Kinective's role in financial services?

Kinective helps financial institutions modernize their operations and improve client experiences through its advanced digital connectivity solutions.

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